Receivables Management within Tourism Industry in Turkey

All industries which has a ‘forward sales’ policy is open for risks of uncollected receivables. Mainly for this reason, companies within tourism sector in Turkey pays attention to reduce such debt risks. Making contracts with clients and suppliers is among these tools to prevent debt collection problems with Turkish companies. 

Although there are contracts, unpredictables problems or developments may still cause delays in payments within tourism industry. A careful approach to Turkish companies who have delayed their payments, can increase the likelihood of debt collection in an amicable way and would contribute to the development of tourism industry in all. 

The Effects of Covid19 in Tourism Sector Worldwide

In the current context of a world under the restrictions imposed by the COVID-19 pandemic, the tourism sector is one of the most exposed sectors which suffer defaults or delays in services with suppliers and / or customers. The companies in tourism sector still face with a huge risk of disappearance or bankruptcy while offering their services.

In order to avoid scenarios similar to what happened in 2008 or 2009, different protection strategies have been designed such as special insurance contracts to guarantee payments to creditors.

However the pandemic caught the tourism industry with a full surprise without the possibility of anticipating such a crisis mainly due to the fact that tourism industry did not show any sign of slowing down. Suddenly, it stopped and generated cancellations and defaults everywhere, in some cases without contracts and without insurance. It was impossible to anticipate such a context worldwide.

If your company or business has suffered a sudden stop in the corresponding payments, it is necessary to renegotiate and find a solution before legal action. Achieving the continuity of your business with your clients in Turkey or in any other countries, should be the goal number one. Not only in tourism industry, but in all sectors, finding trustworthy clients is not easy. Therefore even if your clients are causing delays in their payment due to Covid19, this may be considered within the extraordinary circumstances. 

This is when the professionals at ARS Consultancy can help you.

ARS Consultancy services include specific follow-up and due diligence on your client’s situation in Turkey or abroad to verify the real financial situation. While knowing the situation that companies in this sector are going through, we look for an appropriate solution for both sides, negotiate face to face and formulate special payment plans for each specific situation and each specific client.

Recovery professionals at ARS Consultancy works to reach the Turkish debtor company and negotiate with them face to face about the situation. Their background allows them to measure the kind of conflict they are facing and as a result of this they offer different options in order to solve the problem.

At ARS Consultancy, the debt collection experts study deeply about the debtor’s profile and start to negotiate the receivable recovery in Turkey. The process can take different amount of time according to the adopted strategy but it is definitely more suitable for your company. After this, you are only focus on your job and your business and no more in other issues. 

The greatest advantage of working with ARS Consultancy experts is that we work under the principle of NO RECOVERY NO FEE, this basically means that until payment is recovered, ARS does not charge any type of fee for services and only charges when you get your money back.

Based on our experiences since 2011, we quickly and carefully determine the necessary steps to take in critical moments. Working with a global network over 4000 people in 155 countries is a big advantage for us get experienced in international debt collection process while reaching the best solution on debt cases in Turkey.

Therefore, before this crisis generates lack of liquidity or business performance problems, get in touch with the ARS Consultancy professionals and worry no more.

ARS Consultancy is Turkey’s first international collection agency and we love to avail our clients by collecting their debts as well as to contribute their cash flow management. It is always a pleasure to see both creditors and debtors continue working again in the future after our involvement to solve a debt conflict and complete a successful debt recovery in Turkey. You can contact us by phone +90 212 296 91 47 or email info@arsconsultancy.com in order to get a commission quote.

Alberto Delgado

Collection and Risk Managment Jr. Specialist